BANGOR, Maine (NEWS CENTER) – The former Manna Inc. building was officially sold at an auction on Thursday morning.
The bank foreclosed on the property after Manna Ministries failed to meet the conditions of a pair of mortgages.
After nearly 40 minutes of bidding, David Giroux, of Pro Realty in Bangor, purchased the property for $390,000. Although he was determined to walk away a winner, his purchase did not come as easily as he thought it would.
“A single family home with a fixed value income can be sold in 7 minutes,” said Mike Carey of Tranzon auction properties.
A big investment like this called for some heavy decision making and a few delays that were well worth the wait.
“I’m just happy that they’re going to be active and participating and hopefully make it a productive part of the community again,” said Carey.
Giroux plans to transform the property into a residential living space.
“We saw potential of the building, the location is awesome, and it has plenty of parking, so it has a great future,” he said. “So we had the best use for it as a building rather than just a piece of land.”
Giroux expects construction to begin within the next 30 days.